Property Preservation Services

HUD Conveyance

For this property preservation service, Virginia REO Preservation LLC will ensure all necessary work required by the regulatory guidelines for the loan type is complete and the property is in conveyance condition. If any work is needed to bring the property into conveyance condition, and can be completed for the loan type’s published regulatory fee schedule, the work will be completed under this order. If the work cannot be completed for the published fee, an estimate will be provided to bring the property into conveyance condition.

Securing

This property preservation service authorizes Virginia REO Preservation LLC to perform all necessary property preservation according to the applicable regulatory guidelines for the loan type or client profile. For loan types with no applicable regulatory guidelines, the HUD guidelines, and fee schedule, will be followed. Services typically include changing entry lock or keyway, locking all windows and doors, winterizing to the applicable specification and maintaining the grounds, when in season.

Lock Change

Under this property preservation service, Virginia REO Preservation LLC will change the lock(s) at the property to the key code according to the regulatory requirements for the loan type, unless otherwise instructed. For loan types with no applicable regulatory guidelines, the HUD guidelines, and fee schedule, will be followed. No additional property preservation will be completed under this order, unless otherwise specifically requested.

Re-secure as Required

The property will be secured according to the regulatory specifications for the loan type, unless otherwise instructed.

Secure Pool

For this property preservation service, Virginia REO Preservation LLC will secure the pool or hot tub at the property according to the regulatory requirements for the loan type. This could include decking, screening, pumping water out of the pool, chemical treatment and padlocking the pool gate, if required. This service authorizes Virginia REO Preservation LLC to re-secure properties that have been previously secured. As with any property preservation work, if the work cannot be completed for the published price, an estimate will be provided to complete the securing.

Board to Area Specifications

Under this property preservation service type, any broken windows found at the property will be boarded or re-glazed according to the area regulatory requirements for the loan type. Please note, some area regulations may require boarding and/or screening of all windows, regardless of their condition.

Lawn Maintenance

Virginia REO Preservation LLC will perform the necessary lawn maintenance to maintain the property’s appearance, prevent further degradation to the grounds and relieve the property of any existing or potential violation of local ordinance.
Lawn cutting includes mowing the lawn, weeding, edge trimming, sweeping of all paved areas (sidewalks, driveways, patios, etc.) and removal of all lawn clippings, related cuttings and incidental debris. The disposal of all clippings and incidental debris is removed in compliance with jurisdictional requirements.
Virginia REO Preservation LLC also provides an automatic grass cut program, where we will maintain the grounds at the property according to the applicable regulatory guidelines for the loan type. We will continue maintaining the grounds at the property until instructed to remove the property from the program or maintenance is no longer required, as specified by the regulatory specifications for the loan type and/or client profile.

Winterization

This property preservation service authorizes Virginia REO Preservation LLC to winterize the plumbing at the property, to prevent freeze damage, according to the regulatory requirements for the loan type. If the work cannot be completed for the applicable regulatory price, an estimate will be provided to complete the winterization.

Debris Removal

This property preservation service authorizes our independent contractor to remove interior, exterior or hazardous debris at the property as authorized by client request or the regulatory specifications for the loan type. If the debris for any loan type, cannot be removed for the published reimbursable fee, an estimate will be provided.

Allow Access

Under this property preservation service order, we will arrange to have a contractor allow access for an individual(s) to a property previously secured by Virginia REO Preservation LLC. We will allow the individual(s) access to the property for the length of time requested, then ensure the windows and doors are locked prior to departing the premises.